How to switch your existing mortgage to a better rate

The team at switchrates.co.uk have one mission – to bring down your monthly mortgage costs.

Switch your mortgage rate and lower your monthly mortgage payments

If you are an existing borrower you have a few options to keep your mortgage interest rate from creeping into a SVR (standard variable rate). The is SVR is of course almost always a higher interest rate. Let’s talk you through the options that wont cost a you a penny.

Option 1 – Remortgage to a DIFFERENT lender

This is the most common method of securing a competitive interest rate.

The pro’s for Remortgaging include,

Could secure a new and better interest rate

Your new lender may well offer a more flexible product

You can change mortgage terms, such as borrow more money, change the term etc

We want to help borrowers who are coming to the end of a fixed mortgage period or are currently in a lenders Standard Variable Rate. This can be up to 3 months in advance of a mortgage deal coming to an end. If your deal ends you will be paying a lenders SVR (standard variable rate) and your monthly mortgage costs can increase significantly.

If you fall into the following categories read on, we can help with our product switch/transfer service for FREE

You are currently paying a Standard Variable (SVR) rate with your lender

You are looking to bring to bring down your monthly mortgage costs

Your circumstances have changed since you took out your mortgage (lost your job, have credit issues, change of family circumstance, changed your job, made changes to your property)

You do not want to pay any mortgage adviser fees

The Process

Use our online calculator to compare the rates available from your mortgage lender.

You can also complete your existing mortgage details and the calculator will show you exactly how much you can save.

The information contained within this site is to be used for guidance purposes only and does not constitute financial advice. Any data regarding mortgage savings is indicative, a regulated financial adviser will advise as to the actual savings and details of relevant mortgage products.

Switch Rates.co.uk is the leading and only dedicated Mortgage Switch and Transfer comparison service.